salaryRent here is among the lowest 10% of all U.S. cities. A typical house costs about 3.6 years of household income.
How much money do I need?
To rent here comfortably, you should earn about $37,560 a year. That is $18 an hour at a full-time job.
Is rent cheaper than other New Mexico cities?
Yes. Rent here is cheaper than in most of New Mexico. It is number 11 of 44 cities from cheapest to most expensive.
How much do households earn in South Valley?
Share of households by yearly income. 17.4% of households earn $100,000 or more.
Rent by apartment size in South Valley
| Size | South Valley | U.S. average |
|---|---|---|
| 1 bedroom | $842 | $1,324 |
| 2 bedrooms | $1,009 | $1,509 |
| 3 bedrooms | $1,213 | $1,698 |
| 4 bedrooms | $1,439 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is South Valley overall?
Everyday prices in New Mexico overall are 8% below the U.S. average (index 92.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for South Valley, so the New Mexico figure is shown.
Taxes and bills in South Valley
Life in South Valley
Is it cheaper to rent or buy in South Valley?
Renting is cheaper right now: about $617 a month less.
Owning assumes a typical $224,300 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $22,430 for the down payment.
Frequently asked questions
What is the average rent in South Valley, NM?
Renting in South Valley costs a median of about $939 a month in 2026, including utilities. The New Mexico median is $1,181.
How much do I need to make to live in South Valley?
To keep rent under 30% of income, you need about $37,560 a year, or $18 an hour at a full-time job.
Is South Valley cheap or expensive?
South Valley is rated Cheap: rent takes 17.9% of the typical household income of $62,795. It ranks 11th cheapest of 44 New Mexico cities we track.
How much are property taxes in South Valley?
The median homeowner in South Valley pays $1,508 a year in property taxes, about 0.67% of the median home value.
Is South Valley more expensive than the national average?
Overall prices in New Mexico are 8% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in South Valley?
The median home value in South Valley is $224,300, about 3.6 times the typical yearly household income.
37,120 people live in South Valley. Numbers are typical (middle) values.